Likely to Become a Traditional Fried Chicken Specialty Restaurant
The franchise specialist company 'The Born Korea,' founded by CEO Baek Jong-won, is reported to have recently registered a trademark for a fried chicken restaurant. Although The Born Korea has numerous franchise subsidiaries, it has not operated a fried chicken restaurant until now.
According to multiple media reports including Newsis on the 7th, The Born Korea recently registered the trademark 'Baek Tongdak' with the Korean Intellectual Property Office. Baek Tongdak is designated as a specialty chicken cuisine restaurant.
Baek Jong-won, CEO of The Born Korea, is cooking chicken barbecue developed as part of the Yesan Market Revitalization Project. [Image source=Baek Jong-won YouTube]
Baek Tongdak is known as a chicken restaurant operated by CEO Baek at the Yesan Market in Yesan County, Chungnam Province. Some speculate that after piloting the specialty store at Yesan Market, there may be plans to expand it nationwide.
Previously, The Born Korea collaborated with Yesan County on the 'Yesan Market Revitalization Project.' Several products developed from the market were turned into convenience store items through The Born Korea. A representative example is 'Applia,' the signature beer of Yesan Market, which was sold nationwide through the convenience store chain CU.
The Born Korea owns numerous franchises, including Hanshin Pocha, Saemaeul Sikdang, Rolling Pasta, Hong Kong Banjeom, Paik’s Coffee, Go To Work, Paik Boy, Yeondon Bolkatsu, Baek’s Beer, Richun Market, Yeokjeon Udon, Makiorum, Seongseong Sikdang, Baek Cheolpan, Baek Jong-won’s Original Ssambap House, Bonga, Mijeong Guksu 0410, Dolbaegi Jip, and Insaeng Seolleongtang.
These cover a wide range from Chinese cuisine to Western food, Korean food, and pubs, but there was no specialty fried chicken restaurant. The Born Korea franchise that handles chicken dishes is the beer pub 'Baek’s Beer,' which offers menu items such as Volcano Boneless Chicken and Fried Chicken Skin as side dishes.
Meanwhile, The Born Korea recorded sales of 410.6 billion KRW and an operating profit of 25.5 billion KRW last year. This represents a 45% growth compared to the previous record sales of 282.1 billion KRW in 2022. There are also forecasts that the company will pursue an initial public offering (IPO) this year, riding on its steep growth trajectory.
Previously, in 2018, The Born Korea selected NH Investment & Securities and Korea Investment & Securities as joint lead managers for a KOSDAQ IPO, but the process was halted due to deteriorating performance and the impact of the COVID-19 pandemic. However, CEO Baek declared in a 2022 interview with a media outlet that "We will pursue a listing in 2024, marking the 30th anniversary of the company's founding."
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